HomeMy WebLinkAbout71-244~
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, WHEREAS, the Board o£ Administration~ Public Employees Retirement
', Systera has proposed to change ~he procedures for payment of contxibutions to
~he Retirement System by fixing a deadline of five working days, following the
close of -8he service period, for participating agencies to have payrnents reach
the system withou~ the imposition of an interest charge retroactive to ~he first
day following the close of a service period,
NOW, TI-IEREFORE, BE IT R£SOLVED~ tha~ ~he Board o~ Svpervisors of the
County of Butte does hereby enter a strong protest to the imposition of these
procedures which would require Contracting Agencies~ which use a"pay lag"
procedure £or collection of contribUtions from 9.ts em~loyees, to advance Public
Funds to the Retirement System based on an est~mate of the required contxibu~ions.
BE IT PURTHHR RESOLVED that copies of this Resolution be forwarded to
the Board of Administration, Public Employees Retzrement System in reply to its
letter of September 22, 1971.
PASSED AND ADOPTED by ~he Butte County Board of Supervisors
this ~t~ day of October, 1971, by the fol.]owzng vo~e:
AYES: S~.pervisors Gilman, Madigan, Maxon, and Chairmar~ Aeynolds
NOES: None
ABSENT: Supervisor McKillop
NOT VOTING. ~one
~
JERE REYNOZb5, Chai an of the
But County Board of Supervisors
ATTEST:
CLARK A.NELSON, County Clerk and
ex~-officio Clexk of the Board
BY ` .P a ~
a ~
` //~ K~~
RESOLUTION PROTESTING THE PAOPOSED CHANGE 2N FAYMENT OF CONTRIBUTIONS
TO THE PUBLIC ~MPLOYEES RETIREMENT SYSTEM